XML 36 R26.htm IDEA: XBRL DOCUMENT v3.23.3

STOCKHOLDERS' EQUITY (Tables)

9 Months Ended

Sep. 30, 2023

Equity [Abstract]

Schedule of Stockholders Equity

The following tables present the changes in stockholders’ equity (in millions):

			Three Months Ended September 30, 2023
			Common Stock												Additional Paid-In Capital						Retained Earnings						Accumulated Other Comprehensive Income (Loss)						Total Intuitive Surgical, Inc. Stockholders’ Equity						Noncontrolling Interest in Joint Venture						Total Stockholders’ Equity
			Shares						Amount
Beginning balance			351.3						$	0.4					$	8,150.8					$	3,807.7					$	(79.8)					$	11,879.1					$	80.6					$	11,959.7
Issuance of common stock through employee stock plans			0.7						—						77.4						—						—						77.4						—						77.4
Shares withheld related to net share settlement of equity awards			—						—						(0.6)						(14.2)						—						(14.8)						—						(14.8)
Share-based compensation expense related to employee stock plans			—						—						158.3						—						—						158.3						—						158.3
Net income attributable to Intuitive Surgical, Inc.			—						—						—						415.7						—						415.7						—						415.7
Other comprehensive income (loss)			—						—						—						—						23.3						23.3						(0.2)						23.1
Net income attributable to noncontrolling interest in joint venture			—						—						—						—						—						—						4.1						4.1
Ending balance			352.0						$	0.4					$	8,385.9					$	4,209.2					$	(56.5)					$	12,539.0					$	84.5					$	12,623.5

			Three Months Ended September 30, 2022
			Common Stock												Additional Paid-In Capital						Retained Earnings						Accumulated Other Comprehensive Income (Loss)						Total Intuitive Surgical, Inc. Stockholders’ Equity						Noncontrolling Interest in Joint Venture						Total Stockholders’ Equity
			Shares						Amount
Beginning balance			357.1						$	0.4					$	7,484.0					$	4,682.8					$	(144.2)					$	12,023.0					$	59.4					$	12,082.4
Issuance of common stock through employee stock plans			0.9						—						82.0						—						—						82.0						—						82.0
Shares withheld related to net share settlement of equity awards			(0.1)						—						(0.4)						(7.9)						—						(8.3)						—						(8.3)
Share-based compensation expense related to employee stock plans			—						—						138.1						—						—						138.1						—						138.1
Repurchase and retirement of common stock			(4.6)						—						(18.9)						(981.1)						—						(1,000.0)						—						(1,000.0)
Net income attributable to Intuitive Surgical, Inc.			—						—						—						324.0						—						324.0						—						324.0
Other comprehensive income (loss)			—						—						—						—						(43.4)						(43.4)						(1.5)						(44.9)
Net income attributable to noncontrolling interest in joint venture			—						—						—						—						—						—						0.7						0.7
Ending balance			353.3						$	0.4					$	7,684.8					$	4,017.8					$	(187.6)					$	11,515.4					$	58.6					$	11,574.0

			Nine Months Ended September 30, 2023
			Common Stock												Additional Paid-In Capital						Retained Earnings						Accumulated Other Comprehensive Income (Loss)						Total Intuitive Surgical, Inc. Stockholders’ Equity						Noncontrolling Interest in Joint Venture						Total Stockholders’ Equity
			Shares						Amount
Beginning balance			350.0						$	0.4					$	7,703.9					$	3,500.1					$	(162.5)					$	11,041.9					$	70.7					$	11,112.6
Issuance of common stock through employee stock plans			4.1						—						252.2						—						—						252.2						—						252.2
Shares withheld related to net share settlement of equity awards			(0.6)						—						(6.9)						(148.5)						—						(155.4)						—						(155.4)
Share-based compensation expense related to employee stock plans			—						—						452.5						—						—						452.5						—						452.5
Repurchase and retirement of common stock			(1.5)						—						(15.8)						(334.2)						—						(350.0)						—						(350.0)
Net income attributable to Intuitive Surgical, Inc.			—						—						—						1,191.8						—						1,191.8						—						1,191.8
Other comprehensive income (loss)			—						—						—						—						106.0						106.0						(1.0)						105.0
Net income attributable to noncontrolling interest in joint venture			—						—						—						—						—						—						14.8						14.8
Ending balance			352.0						$	0.4					$	8,385.9					$	4,209.2					$	(56.5)					$	12,539.0					$	84.5					$	12,623.5

			Nine Months Ended September 30, 2022
			Common Stock												Additional Paid-In Capital						Retained Earnings						Accumulated Other Comprehensive Income (Loss)						Total Intuitive Surgical, Inc. Stockholders’ Equity						Noncontrolling Interest in Joint Venture						Total Stockholders’ Equity
			Shares						Amount
Beginning balance			357.7						$	0.4					$	7,164.0					$	4,760.9					$	(24.2)					$	11,901.1					$	50.4					$	11,951.5
Issuance of common stock through employee stock plans			3.5						—						188.6						—						—						188.6						—						188.6
Shares withheld related to net share settlement of equity awards			(0.7)						—						(7.1)						(180.2)						—						(187.3)						—						(187.3)
Share-based compensation expense related to employee stock plans			—						—						385.6						—						—						385.6						—						385.6
Repurchase and retirement of common stock			(7.2)						—						(46.3)						(1,560.3)						—						(1,606.6)						—						(1,606.6)
Net income attributable to Intuitive Surgical, Inc.			—						—						—						997.4						—						997.4						—						997.4
Other comprehensive income (loss)			—						—						—						—						(163.4)						(163.4)						(2.1)						(165.5)
Net income attributable to noncontrolling interest in joint venture			—						—						—						—						—						—						10.3						10.3
Ending balance			353.3						$	0.4					$	7,684.8					$	4,017.8					$	(187.6)					$	11,515.4					$	58.6					$	11,574.0

Schedule of Share Repurchase Activities

The following table summarizes stock repurchase activities (in millions, except per share amounts):

			Three Months Ended September 30,												Nine Months Ended September 30,
			2023						2022						2023						2022
Shares repurchased			—						4.6						1.5						7.2
Average price per share			$	—					$	217.5					$	238.1					$	222.4
Value of shares repurchased			$	—					$	1,000.0					$	350.0					$	1,606.6

Components of Accumulated Other Comprehensive Income, Net of Tax

The components of accumulated other comprehensive loss, net of tax, attributable to Intuitive Surgical, Inc. are as follows (in millions):

			Three Months Ended September 30, 2023
			Gains (Losses) on Hedge Instruments						Unrealized Gains (Losses) on Available-for-Sale Securities						Foreign Currency Translation Gains (Losses)						Employee Benefit Plans						Total
Beginning balance			$	5.6					$	(103.5)					$	16.9					$	1.2					$	(79.8)
Other comprehensive income (loss) before reclassifications			2.0						25.6						(6.6)						—						21.0
Amounts reclassified from accumulated other comprehensive income (loss)			2.3						—						—						—						2.3
Net current-period other comprehensive income (loss)			4.3						25.6						(6.6)						—						23.3
Ending balance			$	9.9					$	(77.9)					$	10.3					$	1.2					$	(56.5)
			Three Months Ended September 30, 2022
			Gains (Losses) on Hedge Instruments						Unrealized Gains (Losses) on Available-for-Sale Securities						Foreign Currency Translation Gains (Losses)						Employee Benefit Plans						Total
Beginning balance			$	9.9					$	(140.1)					$	(9.3)					$	(4.7)					$	(144.2)
Other comprehensive income (loss) before reclassifications			(5.7)						(37.3)						(8.5)						—						(51.5)
Amounts reclassified from accumulated other comprehensive income (loss)			8.0						—						—						0.1						8.1
Net current-period other comprehensive income (loss)			2.3						(37.3)						(8.5)						0.1						(43.4)
Ending balance			$	12.2					$	(177.4)					$	(17.8)					$	(4.6)					$	(187.6)

			Nine Months Ended September 30, 2023
			Gains (Losses) on Hedge Instruments						Unrealized Gains (Losses) on Available-for-Sale Securities						Foreign Currency Translation Gains (Losses)						Employee Benefit Plans						Total
Beginning balance			$	(2.9)					$	(154.2)					$	(6.6)					$	1.2					$	(162.5)
Other comprehensive income (loss) before reclassifications			12.6						76.5						16.9						—						106.0
Amounts reclassified from accumulated other comprehensive income (loss)			0.2						(0.2)						—						—						—
Net current-period other comprehensive income (loss)			12.8						76.3						16.9						—						106.0
Ending balance			$	9.9					$	(77.9)					$	10.3					$	1.2					$	(56.5)

			Nine Months Ended September 30, 2022
			Gains (Losses) on Hedge Instruments						Unrealized Gains (Losses) on Available-for-Sale Securities						Foreign Currency Translation Gains (Losses)						Employee Benefit Plans						Total
Beginning balance			$	4.5					$	(16.0)					$	(7.9)					$	(4.8)					$	(24.2)
Other comprehensive income (loss) before reclassifications			(11.0)						(161.4)						(9.9)						—						(182.3)
Amounts reclassified from accumulated other comprehensive income (loss)			18.7						—						—						0.2						18.9
Net current-period other comprehensive income (loss)			7.7						(161.4)						(9.9)						0.2						(163.4)
Ending balance			$	12.2					$	(177.4)					$	(17.8)					$	(4.6)					$	(187.6)

Schedule of Amounts Recognized in Other Comprehensive Income (Loss)

The tax impacts for amounts recognized in other comprehensive income (loss) before reclassifications were as follows (in millions):

			Three Months Ended September 30,												Nine Months Ended September 30,
Available-for-sale securities			2023						2022						2023						2022
Income tax benefit (expense) for net gains (losses) recorded in other comprehensive income (loss)			$	(7.4)					$	10.8					$	(22.0)					$	46.1

X

- References

No definition available.

+ Details

Name:	us-gaap_EquityAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of accumulated other comprehensive income (loss).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-14A

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481674/830-30-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481694/830-30-45-20

+ Details

Name:	us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the net gain (loss) and net prior service cost or credit recognized in other comprehensive income (loss) for the period for pension plans and/or other employee benefit plans, and reclassification adjustments of other comprehensive income (loss) for the period, as those amounts, including amortization of the net transition asset or obligation, are recognized as components of net periodic benefit cost.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfAmountsRecognizedInOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of changes in the separate accounts comprising stockholders' equity (in addition to retained earnings) and of the changes in the number of shares of equity securities during at least the most recent annual fiscal period and any subsequent interim period presented is required to make the financial statements sufficiently informative if both financial position and results of operations are presented.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-SubTopic 10
-Topic 505
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-2

+ Details

Name:	us-gaap_ScheduleOfStockholdersEquityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of treasury stock, including, but not limited to, average cost per share, description of share repurchase program, shares repurchased, shares held for each class of treasury stock.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481520/505-30-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481520/505-30-50-3

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481520/505-30-50-4

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481549/505-30-45-1

+ Details

Name:	us-gaap_ScheduleOfTreasuryStockByClassTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration